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Labour's tax plans leave workers out in the cold

Labour's tax plans leave workers out in the cold

Friday 7 Jan 2005

Rodney Hide - Press Releases - Taxation

Secret Treasury papers obtained by ACT under the Official Information Act show that the Finance Minister is considering a tax cut for companies but not for workers, claims ACT Leader Rodney Hide.

"Dr Cullen has ruled out cutting income tax rates for workers, but appears to have left the door open for corporate tax cuts," Mr Hide said.

The papers show Dr Cullen has sought Treasury's advice on two separate proposals, one to match Australia's 30% rate of corporate tax, the other a lower rate, combined with a percentage on top of this to go into the Cullen Super Fund.

But Dr Cullen speaking to his December Budget Policy Statement ruled out income tax cuts for workers on the grounds they would fuel consumption spending.

"This simply means Dr Cullen won't give workers tax cuts because he's worried people might spend some of their own money. It's okay for Dr Cullen to spend workers' money but not okay for them to spend their own.

"This just shows how arrogant and detached this Government is. But worst of all it's mean-spirited. Extra tax and inflation under Labour has robbed the average household of all their income gains."

Mr Hide believes Dr Cullen should not be leaving working New Zealanders out in the cold.

"It is good he is considering cuts to company tax, and we'll support him on that, but what about the workers? Kiwis have been working hard and contributing to the country's growth.

"Cullen is now sitting on back-to-back record surpluses - with much more money than is needed to do all the things that people expect governments to do.

"The right and fair thing to do is to hand it back to working New Zealanders. It is a disappointment that Dr Cullen won't even begin to consider tax cuts for workers," said Mr Hide.

ENDS

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